Original news:

KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $157 million
during the week ended on Oct 21, but an inflow of $1.5 billion from the Asian Development Bank
elevated the reserves level. However, the US dollar remained in high demand in the interbank
market as a result it appreciated by 81 paise against the rupee despite a massive inflow from the
ADB. The greenback closing price was Rs221.50. Amid steep shortages, the US dollar gained
Rs1.5 to close at 225.40 in the open market. Since Oct 11, the greenback appreciated by
Rs6.Meanwhile, the SBP reported on Thursday that its foreign exchange holdings fell to $7.439bn
during the week under review. The declining trend in the foreign exchange reserves continued and
the central bank has so far lost over $9bn during the current calendar year. On Oct 26, the SBP
received a $1.5bn loan for the Government of Pakistan from the ADB. These proceeds would be
visible in SBP reserves for the week ending Oct 28. However, with this inflow, the SBP’s total
reserves increased to $8. 939bn.The country’s total reserves during the week were $13.162bn
while the holdings of the commercial banks were $5. 722bn.The foreign exchange reserves held
by the central bank fell 4.07% on a weekly basis, according to data released by the State Bank of
Pakistan (SBP) on Thursday. However, the net reserves held by banks amounted to $6,519.7
million. The reserves were recorded at $16,254.1 million on November 19, down $691 million
compared with $16,945.4 million on November 12 due to “external debt repayments. The overall
reserves, including reserves held by banks other than the SBP, dropped to its seven-month low.
Total reserves stood at $22,773.8 million, recording a decline of $777 million — lowest since
April 30, 2021.

Precis:
The declining trend in the foreign exchange reserves continued and the central bank has so far lost
over $9bn during the current calendar year. On Oct 26, the SBP received a $1.5bn loan for the
Government of Pakistan from the ADB. These proceeds would be visible in SBP reserves for the
week ending Oct 28. However, with this inflow, the SBP’s total reserves increased to $8.
The country’s total reserves during the week were $13.162bn while the holdings of the commercial
banks were $5.722bn. The foreign exchange reserves held by the central bank fell 4.07% on a
weekly basis, according to data released by the State Bank of Pakistan on Thursday. However, the
net reserves held by banks amounted to $6,519.7 million. " The reserves were recorded at
$16,254.1 million on November 19, down $691 million compared with $16,945.4 million on
November 12 due to "external debt repayments.